Europe's Economy Will Rebound

The European Union could emerge from recession in the fourth quarter, and enjoy modest economic growth next year. Why Sept. 22 is the date to watch.

Europe's economy has hit bottom, and is taking its first steps toward recovery.

After almost six years of crisis induced by governments' overreliance on borrowings -- and a near-death experience for the euro—economic indicators suggest that, finally, the worst is over. The European Commission, the European Union's executive body, expects the 27-nation EU to emerge from recession in the fourth quarter of this year, with economic...